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Alcohol based disinfectant market to see 11% CAGR by 2026 | Johnson & Johnson, 3M, DuPont, Ecolab., BODE Chemie GmbH, Acuro, Organics
Alcohol Based Disinfectants Market
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Mostly, alcohol-based disinfectants compose of ethyl alcohol, isopropyl alcohol, N-propyl alcohol, methyl alcohol, and others. Estimates suggest that alcohol-based disinfectants market for products containing N-propyl alcohol is expected to exceed a valuation of $379.8 million by the end of the analysis period. Meanwhile, the methyl alcohol disinfectant industry is expected to witness strong growth at a CAGR of 10.7% over the estimated period. Whereas other alcohol-based segments are projected to grow at a CAGR of more than 9.1% over the forecast timeframe.
Gel-based alcohol antiseptics are products that generally comprise of active ingredients such as alcohol or isopropanol. They are known to be an ideal antiseptic product for killing germs and bacteria on surfaces. It is projected that the gel-based alcohol disinfectants market will register extensive growth due to the surging demand for the product in the personal care domain.
The COVID-19 pandemic has led to creating lucrative growth opportunities for alcohol-based disinfectant manufacturers. Sanitizers which are alcohol based are specifically in demand as they help prevent the spread of the virus through human contact. Such sanitizers are also used in hospitals and healthcare department on regular basis. However, due to the COVID-19 pandemic, the demand for alcohol-based disinfectant has risen exponentially worldwide.
Sanitizers which possess high amount of alcohol are said to kill germs in a better and more quickly.
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Health organizations like U.S. FDA, CDC, and WHO which are renowned globally have officially recommended the use of alcohol based disinfectants like sanitizers. With this, the COVID-19 is expected to play a major role in expanding the growth prospects of alcohol-based disinfectants suppliers.
Leading companies have also come to the fore to introduce alcohol based disinfectant sanitizer spray to be used for laptops, toys and car seats. Footfall of disinfectant sprays will be noticeable across residential, commercial and industrial applications.
Unprecedented demand for disinfectants in the U.S. and Canada will trigger the production of alcohol based disinfectants in North America. Amidst the U.S. observing highest number of COVID-19 cases, demand for disinfectants, including sprays and gels has soared in the region. North America alcohol based disinfectant market revenue hit US$511.9 million in 2019, with growth projected to remain bullish and expanding at CAGR of around 11% through 2026.
In terms of market value, Asia Pacific is likely to remain at the helm with emerging economies such as India and China witnessing increased demand for disinfectants. Spotting unparalleled opportunity and market demand, several ethanol and isopropyl producers have revved up the production of alcohol-based disinfectants in the region.
Some of the leading players profiled in the report are 3M company, BODE Chemie GmbH, Johnson & Johnson, and Ecolab Inc. In the midst of the ongoing and unprecedented nature of the COVID-19 outbreak, these companies are expected to boost their production line and expand their footfall in untapped areas.
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